Saudi Central Bank raises interest rates by 50 bps
The Saudi Central Bank, known as SAMA, raised the Repo rate by 50 basis points to 5 percent, following the…
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UAE launches new AI-powered mobile app for crop disorder detection
The UAE has unveiled a new AI-powered mobile application for detecting crop disorders. The new application – called Dr.…
Saudi retail banks to outperform GCC peers in revenue growth: Boston Consulting
Banking revenue growth in Saudi Arabia is set to outstrip others in the region as increased spending in the environmental…
UAE: Will residents have to pay 9% corporate tax on their salary from next year?
The UAE will introduce corporate tax at nine per cent from June 1, 2023, setting a threshold of Dh375,000 profit…
GCC external assets to hit $6tn if oil averages $120 a barrel in next five years
A steep rise in oil revenue is set to drive up the aggregate external assets of oil-rich Gulf states to…
UAE's compulsory medical insurance for all – what will insurers do on basic premiums?
With UAE planning compulsory health insurance across all emirates, citizens and residents will have more medical insurance plans to choose…
RTA signs MoU with Dubai Development Authority to streamline land permits
The Roads and Transport Authority has signed a Memorandum of Understanding with the Dubai Development Authority to streamline the business…
UAE economy experiencing sustained momentum in 2022: OPEC
The UAE economy has experienced sustained momentum in 2022, boosted by Expo 2020 and the easing of COVID-19 restrictions, according…
Saudi, Kuwait bourses sign deal to boost capital markets
The Saudi Stock Exchange (Tadawul) and Boursa Kuwait have signed a deal to boost their capital markets and collaborate in…
Emirates REIT closes $380mln sukuk issuance at 9.5% profit rate
Emirates REIT, a sharia-compliant real estate investment trust, has closed a $380 million sukuk issuance to refinance the $400 million…
Regional wealth management firm launches invest now pay later service
The Family Office, a wealth management company in the GCC, has launched its invest now pay later service. With…
ADIB wins 'Bank of the Year – UAE' award
Abu Dhabi Islamic Bank has been named ‘Bank of the year- UAE 2022’ by Financial Times’ monthly publication, The Banker,…